Croatia Airlines doubles losses to 21 million euros despite growth

Croatia Airlines reported operating deficits reaching 21.5 million euros during the initial three quarters of this year as the carrier struggles financially despite carrying more travelers. Net financing calculations brought total shortfalls to 20.9 million euros, even as EBITDA figures registered positive at 12.4 million euros.

The airline moved 1,553,577 travelers between January and September, marking a growth of nine percent over 2024 levels. Domestic routes saw passenger counts climb 12 percent while international services expanded nine percent. Revenue climbed to 227 million euros, representing a 10 percent increase, with passenger transport generating 84.5 percent of operational income.

Fleet replacement expenses consumed 19.9 million euros and drove operating costs upward by nine percent compared to last year. Uncontrollable expenditures accounted for 95 percent of the 19 million euro cost surge, with depreciation rising 8.5 million euros, air traffic services climbing 6.5 million euros, and maintenance adding 3.1 million euros. Seven Airbus A220 jets entered service in October with additional deliveries scheduled for 2026. The carrier adjusted its summer timetable from March 30 through October 25 to match tourist demand and available aircraft capacity as part of its post-pandemic fleet modernization initiative.